Business News – Newsletter for January 20, 2011
Thursday, January 20, 2011
Airtel Digital TV Revamp
DELHI, INDIA (GaeaTimes.com)- Airtel Digital TV which is the DTH wing of cellular major Bharti Airtel has come up with its unique offer which enables the customers to select the channels of their choice. This is a welcome move considering some of the channels offered in its existing DTH packages may not be …. Original article on Gaea Times at : Airtel Digital TV Revamp.
China’s economy grows 10.3 percent in 2010
BEIJING – China’s economy grew 10.3 percent last year, up from 9.2 percent in 2009, the National Bureau of Statistics (NBS) announced Thursday.
Gross domestic product (GDP) hit 39.8 trillion yuan ($6.05 trillion) last year, up 10.3 percent year on year calculating at comparable prices, Ma Jiantang, director of the NBS, told a press conference …. Read the original article : here.
India to assist Ghana in $1.1-bn fertiliser project
ACCRA – India will assist Ghana in a joint venture to set up a$1.1 billion fertiliser plant in the Shama Industrial Area of the west African nation.
Ghana’s Minister of Food and Agriculture Kwesi Ahwoi said finance for the project will be sourced from banks and financial institutions in both the countries.
Under a memorandum … Original source on Gaea Times at : India to assist Ghana in $1.1-bn fertiliser project.
Ukrainians go on winter holiday – to Goa!
KIEV – Fun-loving Ukrainians are heading to Goa in big numbers. The Indian holiday destination is a clear favourite, with Ukraine’s flag carrier operating two packed direct flights to the state every week – the only airline in Eastern Europe to do so.
“Goa for us is a dream. It is on the radar screen …. Original article on Gaea Times at : Ukrainians go on winter holiday – to Goa!.
Maruti Suzuki Kizashi: February 2 Debut?
DELHI, INDIA (GaeaTimes.com)- Maruti Suzuki the car maker that has a large stake in compact car market in India is now vying for a share of the mid sized and premium car segment where its share is not much to talk about. In the last few years the growth in the mid sized … Original article on : Maruti Suzuki Kizashi: February 2 Debut?.
Punj Lloyd Group bags Rs.645 crore projects
MUMBAI – Engineering and construction major Punj Lloyd Group Thursday said it had bagged three oil and gas contracts worth Rs.645 crore in India, Oman and Indonesia.
The largest contract worth Rs.323 crore has been awarded by petroleum company Occidental Mukhaizna for engineering and construction of a new water treatment at their oil production …. Source article on Gaea Times at : Punj Lloyd Group bags Rs.645 crore projects.
PM to launch scheme to keep cell number but switch operator
NEW DELHI – Prime Minister Manmohan Singh will Thursday unveil a new scheme that will permit mobile phone users to change their service providers without having to forgo their numbers in what in industry jargon is called mobile number portability.
The service is currently available in Haryana but being taken nationwide in a bid to …. Source : Gaea News Network.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.58 and the Reference Rate for Euro is ` 61.45 on January 20, 2011. The corresponding rates for the previous day (January 19, 2011) were ` 45.38 and ` 61.15 respectively. Based on the Reference Rate for … Read this article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Onions, vegetables continue to keep food inflation high
NEW DELHI – Even as India’s annual food inflation based on wholesale prices fell to to 15.52 percent for the week ended Jan 8, high prices continued to pinch people at large with onions 100 percent dearer over the past year and vegetables 65 percent.
Yet, this was the second week of decline, from 16.91 …. Original source : Onions, vegetables continue to keep food inflation high.
Blue Star Eyeing Expansion
DELHI, INDIA (GaeaTimes.com)- Blue Star which is a major manufacturer of Air conditioning and commercial refrigeration units in India has decided to shift focus on residential market from the next season and therefore it wants to augment its range of air conditioners. It will also tie up with more retail outlets to reach out …. Original article : Blue Star Eyeing Expansion.
Sensex weak in noon trade
MUMBAI – A benchmark index for an Indian equities market Thursday was trading lower amid profit booking in front-line stocks, while broader markets were dull as traders adopted a wait and watch policy.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,892.43 points, was ruling at 19,891.52 points – …. Original article : Sensex weak in noon trade.
Obama, Hu differ on issues, but make $45 bn business deals
WASHINGTON – US President Barack Obama and Chinese President Hu Jintao continued to disagree on issues ranging from economics to human rights but pledged cooperation to stabilise their relations and struck business deals worth a whopping $45 billion.
Obama welcomed Hu with full fanfare, receiving him Wednesday morning at the White House with a 21-gun … Original article on : Obama, Hu differ on issues, but make $45 bn business deals.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on January 20, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Source : Liquidity Adjustment Facility : Auction Results.
India asks Australia to show progress in nuclear energy
MELBOURNE – As Canberra sticks to its ban on selling uranium to New Delhi, India Thursday made it clear to Australia that the full potential of their strategic partnership would not be realised without some progress in the area of nuclear energy.
“While the relationship is progressing well, I think it is important … Original article on : India asks Australia to show progress in nuclear energy.
Boeing withdraws from Indian midair tanker tender
NEW DELHI – Boeing has withdrawn from the midair tanker tender floated by the Indian Air Force (IAF) in September 2010.
That leaves only the European Airbus A330 MRTT and the Russian IL 78 in the fray for supplying six midair refuelers to the IAF, which may actually buy a few more aircraft on follow-on … Read : Boeing withdraws from Indian midair tanker tender.
Brazil created record 2.52 mn new jobs in 2010
Rio de Janeiro, Jan 20 (IANS/EFE) Brazil created a record 2.52 million new jobs last year, the most since the statistics were first registered in 1992, the labour ministry has said.
The number surpassed the 1.61 million jobs the nation generated in 2007, which was the previous high until now. There were only 990,000 new …. Read the original article : Brazil created record 2.52 mn new jobs in 2010.
Brazil created record 2.52 mn new jobs in 2010
Rio de Janeiro, Jan 20 (IANS/EFE) Brazil created a record 2.52 million new jobs last year, the most since the statistics were first registered in 1992, the labour ministry has said.
The number surpassed the 1.61 million jobs the nation generated in 2007, which was the previous high until now. There were only 990,000 new … Read the original article on Gaea Times at : Brazil created record 2.52 mn new jobs in 2010.
Money Market Operations as on January 19, 2011
…. Source : Gaea News Network.
Swiss whistleblower banker guilty, but no jail term
GENEVA – A former top Swiss private banking executive turned WikiLeaks collaborator was found guilty Wednesday by a Zurich court of violating bank secrecy, attempted coercion and sending threatening letters.
But Rudolf Elmer, who once worked for Julius Baer Bank, managed to avoid the jail-time prosecutors sought. Instead, he received a fine of some 7,200 …. Read the original article : Swiss whistleblower banker guilty, but no jail term.
Declare Sawantwadi-Dodamarg ‘eco-sensitive’, government urged
MUMBAI – A top Mumbai NGO Wednesday urged the central government to declare the Sawantwadi-Dodamarg area of Sindhudurg district of the Konkan region as Ecologically Sensitive Area (ESA) and implement a zero mining policy.
In a memorandum to union Minister for Environment and Forests Jairam Ramesh, Sumaira Ali, chief of the Awaaz Foundation, has said …. Source article on Gaea Times at : Declare Sawantwadi-Dodamarg ‘eco-sensitive’, government urged.